Smart Space Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027

Global Smart Space Market: Introduction
A smart space is an environment equipped with audio visual sensing systems that can react and recognize people without them having to wear any special equipment. This improves personal and professional productivity, simplifies complex processes, and increases the efficient use of energy.

Smart homes are one of the prominent examples of smart space which enhances safety, convenience, entertainment, and productivity. Offices and communal workspaces; apartment communities, hotels, malls, grocery stores, and shopping centers; hospitals and healthcare providers; public places such as libraries and schools; and transportation portals such as airports and train stations could all be designed as varied types of smart spaces.

smart space market
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Global Smart Space Market - Dynamics
Increasing Adoption of Smart Homes and Smart Devices Driving Smart Space Market

In the current scenario, adoption of smart devices and smart equipment has greatly increased. Adoption of equipment and devices such as smartphones, smart watches, smart wearable, and many other devices has increased exponentially in the past three years. The reason for this huge growth is due to the fact that they enhance the lifestyle of individuals, make them more productive, and enable the efficient use of energy. Thus, demand for smart spaces is increasing due to multiple advantages related to it.

Increasing Penetration of Smart Technologies in Public Spaces

Deployment of smart technologies has widely increased in public spaces across the globe. Some of the major attributes that convert a public space into a smart space includes smart kiosks at parks, transport stations, hospitals, stadiums, and restaurants. Adoption of smart technologies within these places is driving the growth of the smart spaces market.

Large Initial Capital Outlay Hampering Growth of the Smart Space Market

The initial capital outlay for the deployment of smart technologies in public spaces is very high. For instance, the average price of a single kiosk deployed at a bus stop or railway station could cost US$ 7,000, which can rise up to US$ 25,000 for high-end models. The initial high capital outlay is thus hampering the growth of the market.

North America Expected to Dominate the Global Smart Space Market

In terms of region, the global smart space market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the smart space market compared to other regions.

smart space market 1
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Global Smart Space Market - Competitive Landscape
In June 2019, a simulated smart office set up featuring the latest Pro AV technology was launched by Sharp Imaging and Information Company of America (SIICA) at InfoComm 2019
In February 2019, The Posiflex Group announced plans to showcase its product portfolio which will include smart and connected retail solutions with fully-integrated middleware, RMS (Remote Monitoring System), and hardware to the European market at EuroCIS 2019.
Sharp Corporation

Established in 1912, Sharp Corporation is highly focused on manufacturing and selling telecommunication equipment, electric and electronic application equipment, and electronic components. The company sells its products in four business segments i.e. Smart Homes, Smart Business Solutions, IoT Electronics Devices, and Advance Display Systems.

Fabcon Inc.

Established in 1977, Fabcon, Inc. is a precision sheet metal fabricator and contract manufacturer and offers solutions across retail, entertainment, food service, hospitality, aerospace, medical, telecom, electronics, automotive, government, and finance industries.

The company’s product and service portfolio includes creative products (Digiboo Kiosk, Entertainment Kiosk, Bike Rental Kiosk, Casino Kiosk, Movie Kiosk, Wall-mount Kiosk, etc.), precision products (Aerospace Seat Brackets, Wedge Bonder, Telecom Assembly, Medical Test Equipment, Payment Kiosk, Chassis, etc. ).

Global Smart Space Market: Segmentation
The global smart space market can be segmented based on:

Space Size
Industry
Region
Global Smart Space Market, by Space Size

Based on space size, the global smart space market can be divided into:

Small Space
Medium Space
Large Enterprise
Global Smart Space Market, by Industry

Based on industry, the global smart space market can be segregated into:

Banking, Financial Services and Insurance (BFSI)
Retail & E-Commerce
Government
Media & Entertainment
Food & Beverages
IT & ITES
Telecom
Healthcare
Automotive
Manufacturing
Others (Aerospace, Transportation)
Regional analysis of the global smart space market:

North America
U.S.
Canada
Mexico
Rest of North America
Europe
Germany
U.K.
France
Russia
Italy
Spain
Nordics
Rest of Europe
Asia Pacific
China
India
Japan
Australia
Singapore
Malaysia
South Korea
Rest of Asia Pacific
Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of Middle East & Africa
South America
Brazil
Rest of South America
smart space market 2


This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

Customer Experience Maps
Insights and Tools based on data-driven research
Actionable Results to meet all the business priorities
Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

North America
Asia Pacific
Europe
Latin America
The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

1. Preface
1.1. Market Introduction
1.2. Market Segmentation
1.3. Key Research Objectives

2. Assumptions and Research Methodology
2.1. Research Methodology
2.1.1. List of Primary and Secondary Sources
2.2. Key Assumptions for Data Modelling

3. Executive Summary - Global Smart Spaces Market

4. Market Overview
4.1. Market Definition
4.2. Macro-economic Factors
4.2.1. World GDP Indicator – For Top Economies
4.2.2. Global ICT Spending (US$ Mn)
4.3. Technology/ Product Roadmap
4.4. Market Factor Analysis
4.4.1. Forecast Factors
4.4.2. Ecosystem/ Value Chain Analysis
4.4.3. Market Dynamics (Growth Influencers)
4.4.3.1. Drivers
4.4.3.2. Restraints
4.4.3.3. Opportunities
4.4.3.4. Impact Analysis of Drivers and Restraints
4.5. Market Opportunity Assessment – by Region (North America/ Europe/ Asia Pacific/ Middle East and Africa/ South America) 4.5.1. By Component
4.5.2. By Premise Type
4.5.3. By Space Ownership
4.5.4. By Enterprise Size
4.5.5. By End User
4.6. COVID-19 Impact Analysis
4.6.1. Impact of COVID-19 on Smart Spaces Market
4.6.2. End-user Sentiment Analysis: Comparative Analysis on Spending
4.6.2.1. Increase in Spending
4.6.2.2. Decrease in Spending
4.6.3. Impact of COVID-19 on (Market Name) by Enterprise Size
4.6.3.1. By Enterprise Size
4.6.3.1.1. SMEs
4.6.3.1.2. Large Enterprises
4.6.3.2. By Vertical
4.6.3.2.1. Residential (Smart homes)
4.6.3.2.2. BFSI
4.6.3.2.3. Healthcare
4.6.3.2.4. Retail
4.6.3.2.5. Energy and Utility
4.6.3.2.6. Manufacturing
4.6.3.2.7. IT & Telecommunication 4.6.3.2.8. Government
4.6.3.2.9. Education
4.6.3.2.10. Others
4.6.4. Short Term and Long Term Impact on the Market
4.7. Competitive Scenario and Trends
4.7.1. Smart Spaces Market Concentration Rate
4.7.1.1. List of Emerging, Prominent and Leading Players
4.7.2. Mergers & Acquisitions, Expansions
4.8. Market Outlook

5. Global Smart Spaces Market Analysis and Forecast
5.1. Market Revenue Analysis (US$ Mn), 2015-2030
5.1.1. Historic Growth Trends, 2015-2019
5.1.2. Forecast Trends, 2020-2030
5.2. Pricing Model Analysis/ Price Trend Analysis

6. Global Smart Spaces Market Analysis, by Component
6.1. Overview and Definitions
6.2. Key Segment Analysis
6.3. Smart Spaces Market Size (US$ Mn) Forecast, by Component, 2018 - 2030
6.3.1. Hardware (Solution Type)
6.3.1.1. Smart Lighting Systems
6.3.1.1.1. Sensors
6.3.1.1.2. Switches
6.3.1.1.3. Smart Bulbs
6.3.1.2. Security Systems
6.3.1.2.1. Access Control
6.3.1.2.2. Surveillance Cameras
6.3.1.2.3. Motion Sensors/Detectors
6.3.1.2.4. Sirens/Alarms
6.3.1.3. Energy Management Systems
6.3.1.3.1. Smart Meters
6.3.1.3.2. Plugs and Switches
6.3.1.4. HVAC Control Systems
6.3.1.4.1. Thermostats
6.3.1.4.2. Humidity sensors
6.3.1.4.3. Other air quality monitors
6.3.1.5. Audio-Video Conferencing Systems
6.3.1.5.1. Smart Displays/Whiteboards
6.3.1.5.2. A/V Conferencing systems and Solutions
6.3.1.6. Fire and Alarm Systems
6.3.2. Software/Platform
6.3.3. Services
6.3.3.1. Consulting and Design
6.3.3.2. Integration and Maintenance
6.3.3.3. Managed Services

7. Global Smart Spaces Market Analysis, by Premise Type
7.1. Overview and Definitions
7.2. Key Segment Analysis
7.3. Smart Spaces Market Size (US$ Mn) Forecast, by Premise Type, 2018 - 2030
7.3.1. New Construction
7.3.2. Retrofit

8. Global Smart Spaces Market Analysis, by Space Ownership
8.1. Overview and Definitions
8.2. Key Segment Analysis
8.3. Smart Spaces Market Size (US$ Mn) Forecast, by Space Ownership, 2018 - 2030
8.3.1. Private Offices
8.3.2. Shared/Collaborative/Flexible/Managed Workspaces 8.3.3. Manufacturing Spaces

9. Global Smart Spaces Market Analysis, by Enterprise Size
9.1. Overview and Definitions
9.2. Key Segment Analysis
9.3. Smart Spaces Market Size (US$ Mn) Forecast, by Enterprise Size, 2018 - 2030
9.3.1. Small & Medium Enterprises (includes Start-ups)
9.3.2. Large Enterprises

10. Global Smart Spaces Market Analysis, by End User
10.1.Overview and Definitions
10.2. Key Segment Analysis
10.3. Smart Spaces Market Size (US$ Mn) Forecast, by End User, 2018 - 2030
10.3.1.Residential (Smart homes)
10.3.2.BFSI
10.3.3.Healthcare
10.3.4.Retail
10.3.5.Energy and Utility
10.3.6.Manufacturing
10.3.7.IT & Telecommunication
10.3.8.Government
10.3.9.Education
10.3.10. Others

11. Global Smart Spaces Market Analysis and Forecast, By Region
11.1. Key Findings
11.2. Smart Spaces Market Size (US$ Mn) Forecast, by Region, 2018 - 2030
11.2.1.North America
11.2.2.Europe
11.2.3.Asia Pacific
11.2.4.Middle East and Africa
11.2.5.South America

12. North America Smart Spaces Market Analysis
12.1. Regional Outlook
12.2. Smart Spaces Market Size (US$ Mn) Analysis and Forecast (2018 - 2030)
12.2.1.By Component
12.2.2.By Premise Type
12.2.3.By Space Ownership 12.2.4.By Enterprise Size 12.2.5.By End User
12.3. Smart Spaces Market Size (US$ Mn) Forecast, by Country, 2018 - 2030
12.3.1.U.S.
12.3.2.Canada
12.3.3.Mexico

13. Europe Smart Spaces Market Analysis and Forecast
13.1. Regional Outlook
13.2. Smart Spaces Market Size (US$ Mn) Analysis and Forecast (2018 - 2030)
13.2.1.By Component
13.2.2.By Premise Type
13.2.3.By Space Ownership
13.2.4.By Enterprise Size
13.2.5.By End User
13.3. Smart Spaces Market Size (US$ Mn) Forecast, by Country, 2018 - 2030
13.3.1.Germany
13.3.2.U.K.
13.3.3.France
13.3.4.Spain
13.3.5.Italy
13.3.6.Rest of Europe

14. APAC Smart Spaces Market Analysis and Forecast
14.1. Regional Outlook
14.2. Smart Spaces Market Size (US$ Mn) Analysis and Forecast (2018 - 2030)
14.2.1.By Component
14.2.2.By Premise Type
14.2.3.By Space Ownership
14.2.4.By Enterprise Size
14.2.5.By End User
14.3. Smart Spaces Market Size (US$ Mn) Forecast, by Country, 2018 - 2030
14.3.1.China
14.3.2.India
14.3.3.Japan
14.3.4.ASEAN
14.3.5.Rest of Asia Pacific

15. Middle East and Africa (MEA) Smart Spaces Market Analysis and Forecast
15.1. Regional Outlook
15.2. Smart Spaces Market Size (US$ Mn) Analysis and Forecast (2018 - 2030)
15.2.1.By Component
15.2.2.By Premise Type
15.2.3.By Space Ownership
15.2.4.By Enterprise Size
15.2.5.By End User
15.3. Smart Spaces Market Size (US$ Mn) Forecast, by Country, 2018 - 2030
15.3.1.Saudi Arabia
15.3.2.Kuwait
15.3.3.The United Arab Emirates
15.3.4.South Africa
15.3.5.Rest of Middle East and Africa (MEA)

16. South America Smart Spaces Market Analysis and Forecast
16.1. Regional Outlook
16.2. Smart Spaces Market Size (US$ Mn) Analysis and Forecast (2018 - 2030)
16.2.1.By Component
16.2.2.By Premise Type
16.2.3.By Space Ownership
16.2.4.By Enterprise Size
16.2.5.By End User
16.3. Smart Spaces Market Size (US$ Mn) Forecast, by Country, 2018 - 2030
16.3.1.Brazil
16.3.2.Argentina
16.3.3.Rest of South America

17. Competition Landscape
17.1. Market Competition Matrix, by Leading Players
17.2. Market Revenue Share Analysis (%), by Leading Players (2019) 18. Company Profiles

18.1.ABB Ltd.
18.1.1.Business Overview
18.1.2.Product Portfolio
18.1.3.Geographical Footprint
18.1.4.Revenue and Strategy
18.2.Aricent Inc.
18.3.Asurion
18.4. Cisco systems, Inc.
18.5. Creston Electronics Inc.
18.6. Ericsson AB
18.7.Herman Miller, Inc.
18.8.Honeywell International Inc.
18.9. IoTConnect
18.10. Johnson Controls Inc.
18.11. Koninklijke Philips N.V.
18.12. Lutron Electronics Co., Inc.
18.13. Philips Lighting Holding B.V
18.14. Rapid Conn Group
18.15. RedstoneConnect Plc
18.16. Schneider Electric SA
18.17. ShareDesk
18.18. Siemens AG
18.19. Symantec Corporation
18.20. Tripwire, Inc.
18.21. United Technologies
18.22. Flexible Workspaces Companies 18.22.1. Flexible Workspace
18.22.2. IWG plc.
18.22.3. Space&Co.
18.22.4. WeWork Companies Inc. 18.22.5. Servcorp Limited
18.22.6. BE Offices Limited

19. Key Takeaways